Latest In Stock Building Supply
The building materials distributors also appointed new general counsel.
Distribution center will serve the areas growing housing market.
Facilities will help serve Raleigh-Durham, Salt Lake City metropolitan areas.
Sales to single-family homebuilders up 9 percent year-over-year.
Executives offer projections for the recovery of residential & commercial markets.
The newly public company recorded a loss for the period of $5.5 million, including $9 million of charges related to its IPO.
Stock expects the price to be between $16 and $18 per share.
Neither the number of shares to be offered nor their price has been determined.
Acquisition expands Stock's capabilities in Atlanta market.
Ferguson sales climb 12 percent over the prior year.
Chief executive: Trading conditions may get tougher in coming months.
The private equity firm has held a controlling interest in the building materials distribution company since May 2009.
Jeffrey Rea previously served as president of Tyco Electronics Specialty Products Group.
Wolseley announced it has written off its remaining investment in Stock Building Supply due to continued losses at the former subsidiary.
Bison Building Holdings filed for bankruptcy protection in June 2009.
Stock is purchasing NHC's assets; National Home Centers filed for bankruptcy in December.
MDM Editor Lindsay Konzak recently sat down with the leaders of Ferguson to talk about where they see the company going post-recession. They also discussed the joint venture Wolseley entered into last year for Stock Building Supply – in which it now has only a minority position – and what that means for Wolseley's positioning in North America. Frank Roach, CEO, Ferguson
Kevin Murphy, COO, Ferguson
Steve Petock, Senior Vice President, Business Groups, Ferguson
Jim Feltman, CMO, Senior Vice President, Ferguson
In this interview:
MDM: After a couple of down years, where does Ferguson sit?
Frank Roach: Over the past several years the driving theme in Wolseley's North American group was to centralize back-office cost and collaborate when appropriate between the individual companies: Ferguson, Stock Building Supply and Wolseley Canada.
The exposure Stock had to the new residential construction market – which was roughly 80 percent of their business –
Largest decline for Wolseley seen in Ferguson subsidiary.
